The 5 Year Forecast continues to show a positive fund balance throughout the remaining years, up to and including fiscal year 2024. In the current fiscal year, FY20, the district is projecting a net negative cash flow due to state budget cuts of $300 million as a result of COVID-19 economic issues. West Liberty-Salem’s portion of the cut was $200,000. The remaining years also show deficit spending. While the state allocated some new funds entitled Student Wellness and Success Funds for FY21, it was based on federal census poverty data. West Liberty-Salem school district is one of the lower poverty districts, thus the district is receiving $67,044 in new funding for FY20 and $95,629 in FY21. These funds must be used for services in these areas; mental health, homeless, community liaisons, physical health, mentoring, family engagement, professional development regarding trauma-informed care or cultural competence, before/after school programs including any time school is not in session (summer school). As required, the district will be working with local community partners to submit a plan to the state regarding the use of these funds. Other revenue changes would include an increase in real estate tax revenue from FY20 to FY21 based on valuation changes during the most recent reappraisals in both Logan and Champaign County. The district originally projected more of a decrease due to CAUV, however overall values held steady with the increased residential values offsetting much of the decreased agricultural values. The district is also projecting a decrease in income tax collections due to COVID-19 economic issues and high unemployment. State Funding is also projected to decrease by approximately 10%. This amount could change, however at this point, the state had not released the budget for FY21. Interest Income has also decreased due to significant lower interest rates, again as a result of the down-turn in the economy. Per negotiated agreements, salary and fringes will continue to increase as appropriate. Increased health insurance cost is still a concern for the district. However, the rate increase for FY21 is 7.5%, much better than anticipated. West Liberty-Salem is a member of the Educational Purchasing Council which manages the health insurance plan. District administration is also involved in the EPC health insurance committee. The district is anticipating purchasing 2 new buses and possibly a new van in FY21 to maintain a safe transportation fleet. The district would again like to thank the community for renewing the income tax levy last year. The students are very fortunate to live in such a kind and supportive community.
Treasurer, West Liberty-Salem School
Financial Management Recognized
In January 2020 West Liberty-Salem received another check from the Ohio Bureau of Worker’s Compensation recognizing the district’s completion of the Safety Council requirements and another successful year of keeping employees safe! Great Job to all WL-S staff!!!